Brighthouse Financial BHF Variable Annuities — Changes related to embedded derivatives

Other product segments

Index-linked Annuities

-$1.18B—

Company-Owned Life Insurance

$0—

Fixed Rate Annuities

$0—

ULSG

$0—

Similar metrics at other companies

LNCVariable Annuities — Change in fair value of embedded derivative instrument and other

-$1.44B+7.8%

PFGVariable Annuity — Embedded Derivative Gain Loss On Embedded Derivative Net

-$141.1M-339%

JXNVariable annuity — Effect of changes in assumptions

$3M-50.0%

JXNVariable annuity — Effect of changes in interest rates

-$407M-158%

LNCFixed Annuities — Change in fair value of embedded derivative instrument and other

-$97M-116%

FGFixed rate annuities — Change in fair value of other derivatives and embedded derivatives

$2M+300%

Other financials

Income statement

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Revenue$1.5B-36.1%

Net income-$766.0M-186%

EPS (diluted)-$13.82-174%

Balance sheet

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Cash & equivalents$4.9B+5.1%

Total debt$3.2B0.0%

Total equity$5.6B+6.2%

Total assets$236.80B+0.9%

Cash flow

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Operating cash flow-$221.0M-251%

Valuation

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Market cap$3.65B+1.7%

Profitability

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Net margin-1.1%-9.8pp

Returns & leverage

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Return on equity-1.2%-14.2pp

Debt / equity0.6×0.0×

Where this comes from

Reported directly by Brighthouse Financial in its filing.

Tagged under the XBRL concept us-gaap:PolicyholderAccountBalanceIncreaseDecreaseFromOtherChange.

The official record: Brighthouse Financial’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Brighthouse Financial's variable annuities — changes related to embedded derivatives?: Brighthouse Financial (BHF) reported variable annuities — changes related to embedded derivatives of $0 in Q1 2026.
What does variable annuities — changes related to embedded derivatives mean?: Captures the impact of fair value changes in embedded derivatives associated with variable annuity guarantees. This metric highlights the volatility of the company's hedging program and the sensitivity of liabilities to market movements.